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WEDNESDAY, FEBRUARY 26, 1986
SIR JOHN SET OUT THE BUDGETED GENERAL REVENUE ACCOUNT EXPENDITURE AS FOLLOWS:
DRAFT ESTIMATES
1986-87
($MN)
RECURRENT EXPENDITURE
30 763
CAPITAL EXPENDITURE
1 431
32 194
ADDITIONAL COMMITMENTS TRANSFERS TO FUNDS
1 750
5 600
39 544
$40 BILLION REVENUE EXPECTED
*****
THE TOTAL REVENUE ON GENERAL REVENUE ACCOUNT FOR THE 1986-57 FINANCIAL YEAR IS ESTIMATED TO BE $39.9 BILLION, SIR JOHN BREMRIDGE, SAID TODAY.
THIS TOOK INTO ACCOUNT THE EFFECTS OF THE FIRST FULL YEAR OF THE NEW LAND REVENUE SHARING ARRANGEMENTS WITH THE FUTURE SAR GOVERNMENT, UNDER WHICH REVENUE FROM NEW SALES ACCRUED DIRECT TO THE CAPITAL WORKS RESERVE FUND.
HE SAID A FURTHER $500 MILLION MIGHT BE AVAILABLE DURING 1986-87 IF THE KCRC REPAID THE REMAINDER OF THE OUTSTANDING LOAN TO GOVERNMENT.
HOWEVER, SIR JOHN ADDED THAT SINCE THIS WAS AT KCRC'S OPTION, AND MIGHT DEPEND ON COMPARATIVE INTEREST RATES AT THE TIME, NO ALLOWANCE WAS MADE IN THE REVENUE ESTIMATES.
+ IT IS UP OUR SLEEVE. BUT THERE ALSO MAY WELL BE UNFORESEEABLE ITEMS OF EXPENDITURE ARISING FROM LEGAL CLAIMS, + HE ADDED.
AS THE HOME OWNERSHIP FUND CONTINUED TO RUN IN SURPLUS, HE PROPOSED TRANSFERRING $800 MILLION BACK FROM THE FUND IN 1986-87. SIR JOHN STRESSED THAT THIS WOULD NOT AFFECT ANY HOUSING PROGRAMME>.
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